And with the laws changing in many states its going to get to the point that a license is required and proper disclosures. 

This is very helpful.If we rented our home (and purchased a second home) we could likely purchase another investment properly in roughly 12-24 months after, but this would depend on how creative we'd get with financing.Totally agree about having all eggs in one basket. 

The property is nearby Great Lakes Naval Base, which is very large; in fact the largest Naval base in the United States and the second largest military installment in Illinois. 

Hello to those reading,I manage a family-owned commercial property and we recently received a letter from the NYC Department of Environmental Protection about installing a backflow prevention device.

Don't get me wrong, I feel like a good PM is invaluable and have no issues paying one their 10% to properly manage my property and take away my headaches. 

This code is then entered into your new lock by you, prior to or during the installation.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

At this point I have basically wrapped up my account with the first (dedicated professional) property manager who couldn't do her job properly. 

The suppliers say they are familiar with building codes in the US, but I still imagine there would be a lot of work to ensure code compliance, as well as installing the home on a new foundation, connect to utilities, etc. 

Much appreciate folks,Steve.Steve do you have a real estate attorney that operates in the city to give the proper guidance?